Vascon Engineers Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on May 18, 2026. Further, the company has informed the Exchange regarding voting results.
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Vascon Engineers Limited held an Extraordinary General Meeting on May 18, 2026, where shareholders approved three special resolutions. The first resolution allows issuance of up to 2 crore fully convertible warrants to promoter and non-promoter categories on preferential basis, which could dilute existing shareholders. The second and third resolutions authorize the company to borrow funds exceeding its paid-up capital and free reserves limits, and permit creation of charge or mortgage over company properties as security. All three resolutions passed overwhelmingly with approximately 99.97-99.98% votes in favour, with total valid votes of about 8.1 crore shares representing 34.95% of outstanding shares. Promoter group voted 100% in favour on all resolutions.
Shareholders approved potential capital raising through convertible warrants, which may dilute existing equity. The expanded borrowing powers give management greater financial flexibility but increase debt obligations. Creation of charges on assets could affect creditor positions and future borrowing terms.